Tag: canada

New insurance program could net drivers savings on premiums A new auto insurance program in Alberta, Canada, could give drivers a chance to save money on their coverage. Allstate has launched a new usage-based insurance policy in the province. The policy involves the use of telematic technology, which is designed to collect data on how a vehicle is being driven. This may be good news for safe drivers, as they will be able to obtain discounts on their insurance coverage. This data is collected over six months, giving Allstate the…

The province that had previously had a boom in job availability is now facing astounding unemployment rates. New research from Statistics Canada has shown that the province of Alberta has reached a tremendous increase in employment insurance recipients when compared to the rate in January 2015. The Statistics Canada data has shown that the figure in January 2016 is a massive 91 percent higher. In fact, across the country, the number of people receiving employment insurance has increased by 7 percent, but the majority of that figure is actually the…

Open letter highlights the potential benefits of a single-payer health care system Some 560 medical professionals and medical students have come together to issue an open letter concerning the renewed debate concerning health insurance in the United States. With the 2016 presidential campaign in full swing, politicians have been highlighting the merits of a single-payer health care system. Such a system involves the state, rather than insurance companies, paying for all health care costs. Many believe such a system would make it easier for people to acquire health insurance coverage.…

Aviva Canada aims to launch a new auto insurance product in Canada in February New auto insurance coverage for those in Canada that use their own vehicles to transport paying passengers may soon be available in February. The new coverage comes from Aviva Canada, which is looking to close gaps in the auto insurance sector, especially where ride-sharing services are concerned. This coverage may be a boon for Uber, which has come under fire recently due to concerns regarding the insurance coverage that it provides its drivers. Uber has been…

Premiums for auto coverage continue to decline in Ontario, though slower than expected Auto insurance premiums continue to fall in Ontario, Canada, though they are falling at a slower rate than government officials had promised. Two years ago, Finance Minister Charles Sousa promised that auto insurance rates would fall by 15%, but this ambitious promise has proven difficult to fulfill. According to the Financial Services Commission of Ontario, rates are, indeed, falling, but at a much slower rate that many government officials had anticipated. Rates have fallen by approximately 6.96%,…

Report shows that Canadians do not actually have free health care A new report from the Fraser Institute suggests that Canada’s supposedly free health care system is not as free as many people may believe. In Canada, many consumers are able to obtain free medical services, with the cost of these services being covered by taxpayers throughout the country. Many people still need health insurance coverage, as some medical procedures can become quite costly, but the cost of coverage combined with the cost of the country’s health care system may…

Canada’s insurers, and other parties, will have to adapt to the growing frequency of natural disasters Severe weather is beginning to have a major impact on Canada’s insurance industry. As powerful storms hit populated areas, claims are beginning to apply significant financial pressure on insurance companies offer coverage for property and vehicles. The Insurance Bureau of Canada believes that the time has come to address the rising costs associated with severe weather. Doing so may help mitigate the costs that consumers see and help the insurance industry become more resilient…